Monday, September 05, 2011

Ritz-Carlton Residences set to deliver luxury to Mag Mile this year

Construction at the Ritz-Carlton Residences reaches the top floors.
Bob took some photos of the Ritz-Carlton Residences construction progress last week along Michigan Avenue while visiting a favorite boutique seller.

Coincidentally, Mary Ellen Podmolik wrote a sales update on the Ritz-Carlton Residences and Lincoln Park 2520 in the Tribune this past weekend. What was not mentioned; both developments are marketed by Prudential Rubloff Properties our affiliated real estate brokerage.

The two very upscale and luxurious developments are the only games in town for major mid-rise or high-rise construction in Chicago. Amazingly, Mary Ellen Podmolik reports the Ritz-Carlton homes will be the only new construction condo units to deliver downtown in 2011. 

Bob and I know that new construction on the high-end of the market spectrum, if executed property, will sell and will sell for a premium in neighborhoods like Lincoln Park, Lakeview, Near North and the Loop. This is the case even when there is plenty of inexpensive re-sale alternatives.  The market likes new and re-sales have to price at a huge discount to move.

Priced from $1.4 million to "how much you got?", these homes are for lifestyle seekers and lifestyle makers who will be placed squarely in the high-end retail capital of the Midwest. The architecture, parks, cultural events, dining and lakefront have truly reached world class status.

The construction scaffolding at 664 North Michigan Avenue

Street view of the construction.

Please visit to experience the amenities and lifestyle offered to owners of the Ritz-Carlton Residences on North Michigan Avenue.

No comments: